Yes Bank hits a new low

Not surprisingly, Yes Bank is the top loser on the BSE. The stock price plunged over 34% to hit a new low today at Rs.210.10.

The market has not liked the RBI’s decision, asking Rana Kapoor, CEO of Yes Bank to quit by 31^st Jan 2019, not giving him the three-year extension which the market looked forward to.

Following this, brokerage houses across the board have downgraded the stock, cutting the target price as most worry that with Kapoor not being at the helm, the bank could see a slow down in growth  and face delays in fund raising.